The conversational AI industry has experienced explosive growth since the launch of ChatGPT in November 2022, and experts predict it will become a nearly $50 billion global market by 2031. This rapid expansion has sparked innovation across many companies, each vying to stand out in this competitive landscape. One such player making waves is Synthflow AI, a company dedicated to delivering enterprise-grade, easy-to-deploy voice AI solutions.
Based in Berlin, Synthflow is a no-code platform that empowers businesses to create and deploy customized, white-labeled voice AI customer service agents. Since its debut in 2023, Synthflow has quickly gained traction, serving over 1,000 clients and managing more than 45 million calls. Its voice agents are designed to be HIPAA and GDPR compliant, seamlessly integrating with over 200 enterprise platforms including Salesforce, Twilio, and HubSpot.
Hakob Astabatsyan, co-founder and CEO, shared with TechCrunch how the company’s journey began. Alongside co-founders Albert Astabatsyan (now CPO) and Sassun Mirzakhan-Saky (now CTO), they started experimenting with OpenAI’s ChatGPT API early in 2023, exploring ways to build no-code business applications using AI. Their initial focus was on text-based AI bots, but they quickly became fascinated by the complexities and potential of voice AI.
“Voice is really complicated,” Astabatsyan explained. “Real-time speech, handling interruptions, maintaining low latency—it’s a tough challenge. But once we saw how difficult it was, we fell in love with the problem. We decided to dedicate ourselves solely to voice bots.”
Throughout 2023, the team dedicated themselves to building out their platform. They launched the first version of Synthflow in early 2024 and followed up with an enterprise-grade release later that year. The company’s growth has been impressive; Astabatsyan reports a 15-fold increase in size last year and a customer retention rate exceeding 90%. Currently, Synthflow processes around 5 million calls each month—up from 1-2 million the previous year—highlighting its rapid momentum.
To support this growth, Synthflow recently secured a $20 million Series A funding round led by Accel, with participation from existing investors Atlantic Labs and Singular. The new funding will enable the company to expand its team, accelerate research and development, and establish its first U.S. office in an undisclosed location.
Luca Bocchio, a partner at Accel, praised Synthflow’s early achievements. “We’ve been tracking Synthflow since it started developing its initial product, and what stood out was the team’s drive and their focus on enterprise-friendly integrations,” he said. “Their commitment to building depth in technology and extensive CRM and tool integrations demonstrates their understanding of enterprise needs and compliance requirements.”
While Synthflow is gaining significant traction, the conversational AI space remains highly competitive. Other notable companies, like Sierra—a venture-backed startup with $285 million in funding—and Bland AI, which has raised over $50 million, are also making major advances.
Astabatsyan remains optimistic about the future. “AI is evolving incredibly fast, sometimes faster than expected,” he noted. “But we’re confident in where we’re headed. We’re now at a stage where we understand our customers well, have a clear product roadmap, and see a strong path forward for the next three to five years.”
